PUBLISHED: 1/18/2012 5:33 PM | Print | E-mail | Viewed: times

Sources say year may shine for economic development




Sources say year may shine for economic development
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During the National Week of Private Property in 1983, The Star ran a story suggesting "The Recession is Over."

JoAnn and Forrest McKie are suggesting that 2012 could bring the same type of optimism.

"I think things are getting ready to pop," said JoAnn of the real estate market in the area.

And it does look like the City of North Augusta is seeing some light at the end of the tunnel for economic development.

Interim Director of Planning and Economic Development Scott Sterling said their statistics show "some improvement" in the market, particularly when looking at the residential market.

"We're ahead of where we were last year at this time," he said.

The department's monthly report shows totals at the end of November 2011 (the latest statistics available) of 179 residential site reviews, while at the same time in 2010, the number was 150.

"In general there seems to be a turn-around," Sterling acknowledged, indicating there are more and more new housing projects on the books. He mentioned a couple of developments that are now working on new phases of residential developments. He listed Wando Woodlands (now a Crown Properties project) and Bergen Place as finally finishing out the phases that have been on the books for a while.

At the same time, Woodstone now has its second phase under construction.

"December was our best month in over a year," JoAnn said.

She maintained that, with the current low interest rates, homes are more affordable. And she suggested, "People have said they don't want to miss out ... They're tired of the gloom and doom."

Factors seemingly separate from the real estate market also seem to be indicators of a brighter 2012.

"Unemployment is lower than it's been in three years," said JoAnn, while Forrest observed, "There are a lot of trucks on the interstate. That means stuff is moving again."

Forrest, whose developments include Woodstone and the Village at Bergen, started two more houses recently.

JoAnn pointed out Woodstone has been getting a lot of traffic, as well, despite the higher pricetags of about $250,000 to $350,000.

"That price range generally has not picked up yet," she said, adding that the Village at Bergen, where houses are more in the range of $187,000 to $200,000, is definitely picking up in interest. "We sold and closed two in December," she noted.

Another indicator that things may be looking up, said JoAnn, is that in December she was trying to help someone find a house in the $180,000 to $220,000 range, and each time she called about a home they were interested in, "every one had sold." She said that happened five times.

Forrest said he had five different people look at the same house. "We haven't had that kind of activity in some time," the couple agreed, pointing out that even in the best of times December is a slow month.

It's been very, very hard, so this feels really, really good," said JoAnn, who concluded, "It has been my experience that the upturn in the real estate market has always rolled forward (from lower to higher price ranges).

At the same time, on the commercial side, Sterling reported four new starts in 2010 and also in 2011.

He did mention McDonald's, which should be starting soon at Exit 5.

While not willing to be specific at this point, Sterling said there are "a couple of things out there" on the commercial side, but "nothing's hit yet."

"There is certainly activity," concluded Sterling. He noted that there were three or four closings just last week.

"We've weathered the storm better than most places," he said.

JoAnn concluded, "2012 may be time to buy that dream home."